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9 search results for "e-way bil"

Modern Taxation In India Driving Digital Transformation In Finance

More information is being captured now at every level in order to ascertain hidden wealth and income levels of people When we think of Modern Taxation in India, we inevitably think of Goods and Services Tax (GST) because this has been the biggest tax reform implemented in the country since Independence. Long overdue GST has, in a single stroke, unified and subsumed about 17 different indirect taxe...

GST And ‘Make In India’: A Win-Win For The Entire Nation

Existing economic initiatives, such as “Make in India”, are getting a boost from the new tax regime, at least for the most part More than eight months have passed since the introduction of India’s Goods and Services Tax (GST), are form intended to revamp the entire taxation system and stimulate economic growth. What’s more, existing economic initiatives, such as “Make in India”, are getting a boos...

Impact of Goods and Services Tax (GST) on the Indian Economy

The nation was trapped in the net of indirect taxes as well as the archaic taxation system and the economy needed a push for a simple, flat tax structure that would simplify the complicated tax policy. As the new taxation reform GST was introduced with the slogan of one tax one nation, economists hoped that it would iron out the wrinkles in the existing tax system. While on one, the rollout of new...

Why a cloud-based system is the answer to all of India’s GST woes

The Goods and Services Tax (GST) was introduced over a year ago in India, and since then there has been a magnitude of changes that have revamped our entire taxation system. In a recently released statement, the World Bank said, ‘the Indian GST system is among the most complex in the world’. The Goods and Services Tax (GST) was introduced over a year ago in India, and since then there has been a m...

What is Blocking/Unblocking of E-Way Bill Generation Facility?

The CBIC has introduced an important change with the e-way bill generation system to crack down on GST non-filers and evaders. The advisory came into effect from 2nd December 2019 as the blocking and unblocking of the e-way bill generation facility has been implemented on the e-way bill portal. Now the e-way bill generation would be barred for taxpayers who haven’t filed their returns or not paid ...

Demystifying E-Invoicing: The Game-Changing Mechanism under GST

It hasn’t been very long since e-way bills changed the way business was conducted in India and already another game changer is making its way through the tax reform pipeline. Come January 2020 and e-invoicing will be introduced to taxpayers. This will impact all business entities in the long run and change the way business reporting is done today. This whitepaper outlines the game-changing mechani...

How GST transformed the Indian economy?

Impact of the Goods and Services Tax in first one year The 14 year-long journey of the Goods and Services Tax finally culminated on the July 1 2017, with the implementation of what was touted to be the biggest tax reform for the country in 70 years of independence. While the central government was confident of launching the GST as a Good and Simple Tax, there were a lot of others who wanted to kee...

How e-way bill will take GST on the digital highway

E-way bill system will play a pivotal role in making GST an effective weapon and strengthening its positive impact on the Indian economy. “One Nation, One Tax, One Market” seems well in reach for India now. When GST was launched at the stroke of midnight on July 1, 2017 in the central hall of Parliament, it was surrounded by chaos and confusion. Moreover, everyone was uncertain whether GST would p...

E-way bill expected to usher in positive change

Numerous technical glitches held Centre back from implementing the e-way bill system as part of the new Goods and Services Tax (GST) last July. However, it soon became evident that not only would the entire country see economic improvements once the new system was in place, but that the success of the logistics industry depended on the efficient processing of documents that the system promised. In...